Updated on March 3, 2024
Discover the 2024 updates on fuel prices in South Africa, covering changes in petrol, diesel, and gas prices from the previous year. In this discussion, we’ll not only delve into the actual price shifts but also explore the factors influencing the pricing system. This article provides current data and offers a comprehensive look at the information available.
Fuel Price Changes 2024
Fuel prices in South Africa vary between states primarily due to diverse taxes and subsidies imposed on fuel. In 2024, there’s an expected increase in petrol and diesel prices aimed at fostering stable environmental conditions within the country. The government makes changes to petroleum products like petrol, diesel, paraffin, and gas on the first Wednesday of each month.
Several factors influence the fuel pricing mechanism in South Africa. The final calculation, authorized by the Department of Energy (DOE), is carried out by the Central Energy Fund (CEF). The international aspect impacting pricing is the Basic Fuel Price (BFP). New fuel prices, effective from February 8th, will come into effect in the state.
South Africa Petrol
In January 2024, petrol prices experienced a decline, attributed to a 26c/l reduction in the state levy. The significant contributors to petrol prices in South Africa are the general fuel levy and the road accident fund, accounting for nearly half of the total. South Africa predominantly relies on importing crude oil, which is then refined to produce petrol.
In 2006, South Africa implemented a complete ban on leaded petrol to safeguard the health of its citizens. Although leaded petrol is favored for its anti-knocking properties in vehicle engines and has a sweet and pleasant odor, its usage poses health risks, particularly to the developing brains of children.
Types Of Petrol
There are two types of petrol: leaded and unleaded. Leaded petrol contains lead elements. Advancements in technology have made unleaded petrol more environmentally friendly. Cases linked to lead petrol include common issues like memory loss in children and concerns about immature growth in reproductive organs.
To address these concerns, the South African government should take steps to promote the increased use of LPG and CNG gases. Many countries have already banned the use of leaded petrol. If you’re a traveler in another country and have a vehicle that runs on leaded gasoline, you might not be allowed to take it further due to these regulations.